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According to ProAzul’s financial expert, the fund is currently facing challenges linked to the high costs of implementing inspections and difficulties in monitoring the dynamics of violations during marine exploitation, especially by fishermen.
The Mozambican Blue Economy Development Fund (ProAzul) needs USD 900 million to finance projects aimed at the fishing value chain, involving artisanal fishermen and small businesses, it announced on Friday.
According to Chemane, work is underway to involve partners and institutions in planning the budget needed for activities in the public and private sectors. He said that the amount needed should also fund the “MaisPeixe Sustentável” program, which supports the fishing sector in central and northern Mozambique by financing artisanal fishermen and small and medium-sized enterprises.
According to ProAzul’s financial expert, the fund is currently facing challenges linked to the high costs of implementing inspections and difficulties in monitoring the dynamics of violations during marine exploitation, especially by fishermen.
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At the same event, the executive secretary for the Sea and Fisheries, Momade Juízo, expressed the government’s intention to support and lead the blue economy agenda with “dedication and a patriotic sense”, calling for coordinated work between the government and partners to make Mozambique’s blue potential sustainable.
